697 companies formed

UK  771,617 companies formed in the UK in total View national statistics

Isle of Wight figures for 2021 typical of the wider national picture.

With 23.8% more companies being formed in 2021 than were closed, this does not reach the incredibly impressive comparative of 92.2% for 2020. At a first glance it may seem that the Isle is falling behind in terms of growth, but it remains steady at a rate of 3.3% over 2021, only slightly below the national rate of 3.5%.

With dissolutions up 41.5% on 2020 this is again in keeping with the entirety of the UK which sits at 45%.

Where the Isle of Wight does fall somewhat further behind is when considering the total number of companies formed in 2021 per 1000 people is a marked 144% below the national average. Though, giving the locality this may not be too surprising.

Take a look at our infographic which examines company start-up activity in the Isle of Wight in 2021. As well as summarising the area, our analysis breaks down performance by borough and even looks at individual wards.

If you want to register a company in the Isle of Wight, you’ll find our simple company registration service helpful.